Pakistan, Germany To Enhance Renewable Energy Cooperation
Pakistan continues to attract interest from European countries in its renewable energy sector, with Germany being the latest country to join hands with the South Asian nation.
The German Ambassador to Pakistan recently announced that a collaboration forum on renewable energy will be launched with Pakistan. The aim of this forum will be to increase contact and cooperation between public and private sector stakeholders of the two countries.
Germany, which has long been a partner in the development of renewable energy infrastructure in Pakistan, will offer financial and technical assistance in the implementation of hydropower projects. Additionally, Germany will also support formulation of policy and regulations to support the renewable energy sector in Pakistan.
Pakistan has large untapped renewable energy resources in terms of wind and solar energy. Only recently has the country started attracting investments from international investors, especially China and European countries.
Foreign investors poured over $3 billion into the renewable energy sector in Pakistan over the last year. The Alternative Energy Development Board stated that letters of interest have been issued for 25 solar power projects representing 663 MW of cumulative capacity. All these projects are expected to be commissioned by 2018. The provincial government of Punjab has also issued letters of intent for 600 MW of solar power capacity.
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